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Regular or Temporary:
RegularLanguage Fluency: English (Required)
Work Shift:
1st shift (United States of America)Please review the following job description:
The purpose of this role is to design, develop, and execute strategies that align to the development of financial management processes that advance This role will lead supplier optimization and savings identification and execution for Enterprise Technology. This teammate will be responsible for business case and cost benefit analysis, initiative management, and process/portfolio improvement. The purpose of this role is to evaluate, develop, and execute strategies that align to the development of financial management processes that advance Enterprise Technology (ET) operational performance. Serve as a key subject matter expert (SME) on operating efficiency cost initiatives, financial risk management, supplier risk management, supplier portfolio management and reporting strategies for the Enterprise Technology enterprise.ESSENTIAL DUTIES AND RESPONSIBILITIES
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1. Strategic Leadership and Vision:
• Develop and execute a comprehensive cost and supplier management strategy that aligns with Truist’s business objectives and long-term growth plans.
• Provide strategic leadership to the Supplier Management Managers and their teams, ensuring alignment with organizational goals and fostering a culture of excellence and innovation.
• Collaborate with senior leadership to influence and support key business decisions related to supplier management and procurement strategies.
2. Oversight of Supplier Management Function:
• Oversee the management of all supplier relationships, ensuring that Supplier Management Managers effectively manage their teams and supplier engagements.
• Ensure that supplier strategies are aligned with Truist’s objectives, including risk management, cost optimization, and performance improvement.
• Monitor the overall effectiveness of the supplier management function, identifying areas for improvement and implementing necessary changes.
3. Cost Management and Financial Oversight:
• Lead the development and implementation of cost management strategies that drive efficiency and maximize value across the supply chain.
• Oversee financial planning and budgeting related to supplier engagements, ensuring that cost objectives are met and financial risks are managed.
• Work closely with the finance team to develop and monitor key financial metrics, ensuring alignment with Truist’s financial goals.
4. Performance Monitoring and Continuous Improvement:
• Establish and monitor key performance indicators (KPIs) to assess the effectiveness of supplier relationships and management strategies.
• Lead initiatives to continuously improve supplier performance, including the development of advanced Service Level Agreements (SLAs) and performance evaluation frameworks.
• Drive a culture of continuous improvement within the cost and supplier management function, encouraging innovation and the adoption of best practices.
5. Risk Management and Compliance:
• Develop and implement comprehensive risk management strategies to mitigate risks associated with supplier relationships and ensure compliance with regulatory requirements.
• Oversee the identification and management of potential risks, working closely with legal, compliance, and other relevant departments.
• Ensure that Supplier Management Managers are effectively managing risks within their teams and supplier portfolios.
6. Cross-Functional Collaboration and Influence:
• Collaborate with cross-functional teams, including procurement, finance, legal, and operations, to ensure a cohesive approach to supplier management and cost optimization.
• Act as a senior advisor to internal stakeholders on supplier-related issues, providing strategic guidance and support.
• Lead cross-functional initiatives aimed at enhancing the effectiveness of the supplier management function and driving organizational success.
7. Talent Management and Development:
• Lead efforts to attract, develop, and retain top talent within the Cost and Supplier Management function, ensuring a strong pipeline of future leaders.
• Provide mentorship and development opportunities to Supplier Management Managers and their teams, fostering a culture of learning and growth.
• Implement succession planning initiatives to ensure the continuity of leadership and expertise within the function.
8. Reporting and Strategic Communication:
• Prepare and present high-level reports on supplier performance, cost management, and strategic initiatives to executive leadership.
• Ensure effective communication of supplier management strategies and outcomes across the organization, building support for key initiatives.
• Maintain transparency and accountability within the cost and supplier management function, ensuring that all activities are aligned with Truist’s strategic goals.
9. Innovation and Market Intelligence:
• Stay abreast of industry trends, emerging technologies, and market conditions that could impact Truist’s supplier management strategies.
• Lead the integration of innovative approaches and technologies into the cost and supplier management function, driving competitive advantage.
• Identify and capitalize on opportunities to enhance Truist’s supplier management framework through strategic innovation and market insights.
QUALIFICATIONS
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1. Bachelor’s degree and thirteen years of cost and supplier management experience with experience managing complex, IT vendor relationships; or an equivalent combination of education and work experience.
2. Deep specialized and/or broad functional knowledge. Sound understanding of business and organizational strategies and processes.
3. Ability to interpret internal and external business challenges and recommend best practices. Ability to lead complex projects.
4. Sophisticated analytical skills and the ability to solve complex technical and business problems.
5. Ability to influence others at senior levels to adopt a new perspective.
Preferred Qualifications:
1. Master’s degree or MBA and fifteen years of experience or an equivalent combination of education and work experience, including five years of management experience.
2. Banking or financial services experience.
3. Experience in leading large-scale complex projects from beginning to end.
OTHER JOB REQUIREMENTS / WORKING CONDITIONS
Sitting
Constantly (More than 50% of the time)
Standing
Occasionally (Less than 25% of the time)
Walking
Occasionally (Less than 25% of the time)
Visual / Audio / Speaking
Able to access and interpret client information received from the computer and able to hear and speak with individuals in person and on the phone.
Manual Dexterity / Keyboarding
Able to work standard office equipment, including PC keyboard and mouse, copy/fax machines, and printers.
Availability
Able to work all hours scheduled, including overtime as directed by manager/supervisor and required by business need.
Travel
Up to 25%
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
Truist supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Truist is a Drug Free Workplace.
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